John McAfee’s company could spoil the party for Intel’s new venture

Intel’s plans to spin out its security business under the McAfee name could be clouded by the plans of security expert and businessman John McAfee, who claims he had not assigned the rights to his personal name.

The chip maker said Wednesday that it had signed an agreement with TPG for a deal that would see its Intel Security business as a separate cybersecurity company in which Intel shareholders would hold 49 percent of the equity with the balance held by the investment firm. Intel would also receive US$3.1 billion in cash. The new company would be named McAfee.